YSR Bima: Salient Features, Benefits

The YSR Bima is a social security scheme supported by the Andhra Pradesh government for the unorganized workers of the state. The goal is to provide relief to the families of these workers in the event of death or disability. The families of the workers suffer financially post the workers' death since they are unable to meet the sudden rising expenditures or medical costs incurred due to reduced earnings.

With YSR Bheema, families of the deceased workers are provided compensation through death and disability insurance. The insurance coverage varies from Rs. 1.5 lacs to Rs. 5 lacs.

Salient Features of YSR Bima Scheme

The salient features of the YSR Bima scheme are as follows:

• All unorganized workers in the state who fall in the 18 to 70 age group are eligible for this scheme. They should belong to the BPL (Below Poverty Line) category and be the primary earning member of the family. Age will be verified by the nodal agency (Department of Labour) according to their Aadhar Card.
• A premium of Rs. 15 per annum must be paid by the member.
• Registration as per the Unorganized Workers Social Security Act, 2008 is mandatory to qualify as a beneficiary under the YSR Bima scheme.
• Registration can be done through the SERP (Society for Elimination of Rural Poverty) portal. The society takes care of their enrollment, database maintenance, data entry, filing of hard copies of signed applications, and all associated matters.
• The registering authority for this scheme is the Labour Department's Assistant Labour Officer.
• All members of this scheme will also be covered by the Pradhan Mantri Suraksha Bima Yojana (PMSBY), Aam Admi Bima Yojana (AABY), and the State Accidental Death and Disability Scheme.
• It is compulsory to appoint one or more nominees for the scheme, including spouses and dependent children. Minor nominees would have an Appointee. If the worker has no family, a legal representative will be appointed as a nominee.

Benefits of YSR Bheema Scheme?

Families of unorganized workers who register for the YSR Bheema scheme shall receive the following benefits on the death of the worker:

• Total Compensation for Accidental Death and Total Disability: Rs. 5 lacs comprising Rs. 2 lacs from Pradhan Mantri Suraksha Bima Yojana (PMSBY), Rs. 2.25 lacs from the State Accidental Death and Disability Scheme, and Rs. 75,000 from the Aam Admi Bima Yojana (AABY). An additional amount of Rs. 10000/- is paid to the worker's family as immediate financial relief.
• Within 15 days of filing for the claim, the amount will be credited to the registered bank account.
• Members are provided with an identity card having a unique ID number with a policy number.
• Total Compensation for Partial Disability is Rs. 3,62,500/-. The breakup for this includes Rs. 1 lac from Pradhan Mantri Suraksha Bima Yojana (PMSBY), Rs. 2.25 lacs from the State Accidental Death and Disability Scheme, and Rs. 37,500 /-from the Aam Admi Bima Yojana (AABY)
• Aam Admi Bima Yojana (AABY) offers Rs. 30000/- for natural death.
• Scholarships are offered per child for Rs. 1200 per year, for a maximum of 2 children. Students of Class 9, 10, Intermediate or ITI are also eligible.

FAQs on YSR Bima

Q.1 What is the YSR Bima scheme?

The YSR Bheema scheme is a social security scheme started by the Government of Andhra Pradesh for citizens below the poverty line.

Q.2 When was the YSR Bima scheme launched?

The YSR Bima scheme was introduced on 21st October 2020.

Q.3 What is the Total Compensation Paid under the YSR Scheme?

The maximum compensation payable under the YSR Bheema scheme is Rs. 5 lacs.